| 2014 Rm |
2013 Rm |
||
13. |
Income tax expense |
||
Current tax |
|||
| South African company tax | 6 | 12 | |
| Prior year overprovision | 5 | – | |
Deferred tax |
|||
| Temporary differences (note 8) | 19 | 26 | |
| Prior year adjustment (note 8) | (5) | ||
| Income tax expense | 25 | 38 | |
| The tax of the Company’s profit differs as follows from the theoretical charge that would arise using the basic tax rate of 28% for South African companies: | |||
| Normal tax rate for companies on (loss)/profit before tax | (294) | 153 | |
| Adjusted for: | |||
| Disallowable expenditure | 31 | 18 | |
| Exempt income | (134) | (133) | |
| Deferred tax not recognised | 422 | – | |
Tax expense |
25 | 38 |